General Election Betting: Three Tories leave party for Independent Group

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Three Conservative MPs have quit their tribe to join the ex-Labour MPs that split from their own party the day before. Betting.Betfair has the latest on the next General Election market...

"Chuka Umunna is now [32.0] on the Next Prime Minster Market from odds of [501.0] at the start of the week, with his now former leader Jeremy Corbyn and Michael Gove the favourites at [6.6] and [7.2] respectively."

It's been another seismic day in UK politics with three Conservative MPs leaving the party causing big moves in Betfair's next general election betting.

The odds on 'Any Other Party' winning Most Seats at next Election have plummeted from [29.0] last week to [12.0] on Betfair Exchange following mass party resignations.

The exodus started with seven Labour MPs on Tuesday; Chuka Umunna, Mike Gapes, Luciana Berger, Ann Coffey, Angela Smith, Gavin Shuker and Chris Leslie all quitting to form The Independent Group. An eighth MP, Joan Ryan, quit earlier on Wednesday morning to add to the Labour Party's headache.

However in a turn of events, Tory MPs Heidi Allen, Anna Soubry and Sarah Wollaston quit their own party to join "TIG", as it's also known, with Soubry citing, "The right wing, the hard-line anti-EU awkward squad that have destroyed every leader for the last 40 years are now running the Conservative Party from top to toe. They are the Conservative Party."

This has seen the "Any Other Party" selection for winning Most Seats at their shortest ever price, from [43.0] in January and [29] last week.

Furthermore, one of the key instigators, Chuka Umunna is now [32.0] on the Next Prime Minster Market from odds of [501.0] at the start of the week, with his now former leader Jeremy Corbyn and Michael Gove the favourites at [6.6] and [7.2] respectively.

Betfair Exchange Political Odds

UK - Next General Election - Most Seats
Conservative [1.95]
Labour [2.48]
Any Other [12.0]
Liberal Democrat [140.0]

Prime Minister After Theresa May
Jeremy Corbyn [6.6]
Michael Gove [7.2]
Dominic Raab [11.0]
Boris Johnson [9.4]
Sajid Javid [9.6]
Jeremy Hunt [14]
Amber Rudd [22]
Chuka Umanna [32]

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